Solar Panel Cost Guide in Monroeville, AL (2024 Update)
- Monroeville Solar Installation Cost: $21,325
- 25-Year Savings: $33,515
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Monroeville
Let’s have a look at the average cost of solar in Monroeville.
The national average cost of solar panels is $2.66 per watt, but in Monroeville it’s 3 per watt.To cover the typical energy usage of the average home in Monroeville, most homeowners require a 8.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $21,325, or $30,495 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you may look different based on factors unique to your home and what company you want to go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Monroeville
| Year | Return on Investment |
|---|---|
| 1 years | $-19,477 |
| 3 years | $-15,782 |
| 5 years | $-12,087 |
| 7 years | $-8,392 |
| 9 years | $-4,696 |
| 11 years | $-1,001 |
| 13 years | $2,694 |
| 15 years | $6,389 |
| 17 years | $10,084 |
| 19 years | $13,779 |
| 21 years | $17,474 |
| 23 years | $21,170 |
| 25 years | $24,865 |
Top Solar Installers in Monroeville
Although you can install solar panels on your own, it involves extra energy and handiness. For that reason, the majority of homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be invaluable as well, particularly if you don’t quite know what type of solar equipment you need.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Monroeville:
See all of the solar companies in Monroeville
Factors that Affect Solar Panel Costs in Monroeville
The cost of installing a solar system in Monroeville can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Monroeville to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest.However, the interest on solar loans also increases your total costs, so it’s crucial to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Monroeville, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Monroeville have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.63 | $15,244 | $18,083 | 11.4 years |
| 8 kW | $3.56 | $19,935 | $24,501 | 11.2 years |
| 10 kW | $3.49 | $24,430 | $31,115 | 11.0 years |
| 12 kW | $3.42 | $28,730 | $37,925 | 10.8 years |
| 14 kW | $3.35 | $32,834 | $44,929 | 10.6 years |
| 16 kW | $3.28 | $36,743 | $52,130 | 10.3 years |
| 18 kW | $3.21 | $40,456 | $59,525 | 10.1 years |
| 20 kW | $3.14 | $43,974 | $67,116 | 9.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you’re concerned about the longevity of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should opt for, since different companies offer different panels.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
EcoWatch's Monroeville, AL Solar Cost FAQs
How much does it cost to install solar panels in Monroeville?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,450 for a 5-kW system and $34,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Monroeville?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Monroeville?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.